AUD/NZD Price Forecast: Aussie down but uptrend remains intact, AUD/NZD into 1.0900

The AUD/NZD is falling back after peaking on Wednesday.
Antipodean cross pair is cycling familiar territory as bulls refuse to go down.
AUD losing upside momentum could signal another turn towards the downside.

Joshua Gibson FXStreet

The AUD/NZD is trading back into the 1.0900 handle, a level that has been trapping the cross pair for most of 2023.

The Aussie (AUD) has seen a firm recovery since bottoming out in early October near 1.0625, but bullish momentum appears to be draining out of the charts quickly as intraday action begins to print exhaustion patterns.

On the daily candlesticks, the Relative Strength Index (RSI) has begun to roll over into a bearish trend after tipping into overbought territory last week, but traders will note that the Moving Average Convergence-Divergence (MCAD) oscillator still hasn't seen a slow-MA crossover confirming aa bearish bias in candlesticks yet.

The median point for price action currently sits near 1.0825 where the 50-day and 200-day Simple Moving Averages (SMA) are currently converging as long-term momentum drifts into the middle.

AUD/NZD Hourly Chart

AUD/NZD Daily Chart

AUD/NZD Technical Levels

AUD/NZD

Overview
Today last price	1.0906
Today Daily Change	-0.0032
Today Daily Change %	-0.29
Today daily open	1.0938

Trends
Daily SMA20	1.0784
Daily SMA50	1.0809
Daily SMA100	1.0825
Daily SMA200	1.082

Levels
Previous Daily High	1.0939
Previous Daily Low	1.0862
Previous Weekly High	1.0915
Previous Weekly Low	1.0823
Previous Monthly High	1.093
Previous Monthly Low	1.0624
Daily Fibonacci 38.2%	1.091
Daily Fibonacci 61.8%	1.0891
Daily Pivot Point S1	1.0887
Daily Pivot Point S2	1.0836
Daily Pivot Point S3	1.081
Daily Pivot Point R1	1.0964
Daily Pivot Point R2	1.099
Daily Pivot Point R3	1.1041

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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